Indonesia's Danantara merges state hotels under InJourney umbrella

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Indonesia’s Danantara has started consolidating state-owned hotels under the InJourney tourism holding company. Forty-five hotels have already signed conditional sale and purchase agreements as the first phase of the integration. The government expects up to 120 hotels to join the portfolio, which would make InJourney Indonesia’s second-largest hotel operator. Danantara says the restructuring will improve asset value, governance, and operational efficiency. Once the portfolio reaches critical mass, the agency plans to seek outside capital and strategic partners.

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